By pooling the cash from many public entities into a single fund, IMET seeks to earn a higher return for its participants than could be achieved by individual investing. The combined purchasing power of IMET and its longer maturity structure benefits participants.

Participants in the Fund do not hold individual securities. Instead, Participants hold shares of the Fund representing their proportionate ownership of the total Fund. The Fund maintains Participant accounts in terms of full and fractional shares, rounded to the nearest 1/1000th of a share.